Marinomed Biotech AG Secures Creditor Approval for Restructuring Plan

Marinomed Biotech AG has announced that creditors have unanimously approved its restructuring plan. The verdict was delivered during the final court hearing at the Korneuburg Regional Court on November 14, 2024. The plan includes a 30% quota, to be paid in tranches over two years, with a 5% initial cash deposit.

The repayment strategy involves partially funding through the sale of the Carragelose business unit. An additional 'super quota' of up to 7% may be allocated if certain milestones from this sale are met. The plan's confirmation and the closing of proceedings depend on the cash deposit and a standstill declaration from the European Investment Bank.

Marinomed Biotech AG will update stakeholders on further developments regarding this restructuring.